PPI: Commercial Auto Insurance Continues Year-Over-Year Decline

Prices for materials used in the auto glass industry showed mostly increases in August 2022, according to recently released Producer Price Index (PPI) data from the Bureau of Labor Statistics (BLS).

The monthly PPI, which includes auto glass*, increased by 9.6% on a year-over-year basis and 2.1% from July 2022. According to the BLS, the commodity classification “organizes products and services by similarity or material composition, regardless of the industry classification of the producing establishment.”

Prices for motor vehicle parts went up by 5.1% from August 2021, and in that index, in the commodity grouping, month-over-month prices increased by 0.8% from July 2022.

The PPI for molded rubber mechanical goods (automotive) did not change from its July reading, but went up by 1.3% from August 2021.

Adhesives and sealants saw an increase of 1.7% from one month to the next, and a 21.8% increase from last year.

Motor vehicle repair and maintenance, in the services grouping, saw no change from July 2022 but increased 4.1% from the same time last year.

The cost of private passenger auto insurance services increased 3.8% from August 2021 and 0.2% from July 2022. Commercial auto insurance saw a 1.5% decrease from August 2021 but no change from July 2022.

*This number is for the specialty glass category in August under the commodity category.

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